Solar Firm Greenshift Offers Carbon Finance Option With EV Stations

Highlights :

  • Greenshift claims to be the first firm to be offering carbon finance options to its customers in India.
  • It also offers solar at zero cost for residential category and housing societies.

Mumbai-based GreenShift Initiatives Private Limited (GIPL) which claims to offer a unique solar-as-a-service (SaaS) model involving zero-investment on rooftop solar installation, and fast electric vehicle (EV) charging infrastructure has come out with an offer to monetize carbon emission achievement.

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The company has rolled out carbon credits — a ‘carbon finance’ option to its customers to support decarbonisation and foster lower-carbon future. Under the plan, the company will remit the monetary amount, allowing residential and commercial buildings to monetize their carbon credits earned from their rooftop solar installations and transformation to electric mobility.

Further fortifying its blueprint for zero carbon emission, GreenShift has planned to set up multi-city fast EV charging hubs in the next 12 months.

During its phase-1 plan, the company plans to set up fast EV charging stations across major metro cities and branch out to tier-II cities. Subsequently, during phase-2, it will install fast EV charging hubs on the national highways (NHs) and expand to state highways.

“Unlike usual Capex schemes wherein the consumer would own the rooftop solar and EV charging system and invest upfront, GreenShift is unique. Its zero-investment plan offers the consumer the option to only pay for the green energy generated and consumed, while the solar panel installation and EV charging system will be installed, owned and maintained by our company. Customers can avail of the electricity generated under the net metering policy without having to worry about any related operations and maintenance concerns. In return, the consumer needs to pay as per the pre-decided energy tariff, which is less than the prevailing electricity grid tariffs,” informed Satinder Aggarwal, Founder & Managing Director, GreenShift Initiatives Private Limited (GIPL).

After transport, residential and commercial buildings are a major consumer of energy and emitters of carbon emissions. greenshift claims that its  best-in-class energy management platform offers the benefits of carbon credits to every residential and commercial building while streamlining the credit monetization process. Concurrently, it will also help promote the transition from polluting ICE vehicles to climate-friendly electric vehicles, said  Aggarwal.

Elaborating on various benefits to residential and commercial real estate customers, Aggarwal adds, “GreenShift invests and installs rooftop solar power solutions at a pre-approved location applying the latest technology, high industry standards and guarantee the performance of the plants. We supply power at lower rates on a long-term Power Purchase Agreement (PPA) basis. Our customers will be charged for units consumed as per the solar meter. The rooftop installations are fully financed by our company with no upfront cost of planning, designing, installation, and operation. Our service model frees up cash flow that one would otherwise have to spend on the project. We offer up to 25-years of comprehensive on-site warranty, remote monitoring to identify glitches and emergency response within a stipulated time period.”

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